Nov 05 2024 20 mins
Why do we pay tax? Should we? How much? The Bible instructs about tax? Welcome to the Tax Episode you have been waiting for and it's finally arrived. Applause.
Key Takeaways:
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Taxes are the financial backbone which support essential government services such as schools, hospitals, and infrastructure.
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The Australian tax system is progressive – higher-income earners pay proportionally more. This allocation of resources from those who can afford to contribute more can be viewed as a fair system.
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Optimising tax payments through eligible deductions and exemptions is encouraged.
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The distinction between high earners and rich individuals is crucial, particularly in discussions about tax equity and avoidance.
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From a Christian perspective, paying taxes is viewed as a civic duty aligned with scriptural teachings which emphasise honesty and respect for governing authorities.
Notable Quotes:
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"Taxes are the price we need to pay to live in the kind of world that we want." - Pete Burrows
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"A fair amount is what's correct... calculated within the laws." - Pete Burrows
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"I think tax is a privilege." - Pete Burrows
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"The Bible strongly indicates that paying taxes is necessary, 'giving to Caesar what is Caesar's'." - Ben McEachen
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We love your questions. Contact the Money: Faith and Finance team and we will aim to get back to you in a future episode.
Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.
Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.
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